First time rental

[Brad Tull]

Hi all, I'm new here. I was thinking about pulling 100-150k out of my house (currently owe 150k but worth 600k) to buy something to rent. I am not averse to something in the 10-35k range but would need to find the right mix of location and situation to pull the trigger on a project like that. I'm currently considering Erie, PA, Pittsburgh, PA, and Columbus, OH, although I am interested in NY state also.

Any thoughts would be helpful.

[Anthony L Amos Jr]

Quote from @Brad Tull:

Hi all, I'm new here. I was thinking about pulling 100-150k out of my house (currently owe 150k but worth 600k) to buy something to rent. I am not averse to something in the 10-35k range but would need to find the right mix of location and situation to pull the trigger on a project like that. I'm currently considering Erie, PA, Pittsburgh, PA, and Columbus, OH, although I am interested in NY state also.

Any thoughts would be helpful.

Hey Brad! 

Glad you're looking at Columbus! Will the 35k be for down payment only? If so you'll be looking at homes in the 150-180k range. You can find a good rental homes in decent areas here in Columbus and you can find homes in even better areas if you were looking in the Toledo, Dayton, or Cleveland areas